Posted by Joshua Jarvis on December 10, 2009 at 11:48pm
Good Morning Agents!We here at the Bank as sitting on a lot of inventory. As you know we have been telling you that more inventory is coming to you for the past several months. Well, we REALLY mean it this time. So we thought we would give you about 4 times the BPOs this month that you normally receive so we can get those homes moved... next month.We also wanted to tell you not to listen to the rumors that we are deleting our databases, changing out our account managers or adopting any kind of auction programs. We're in this together. Sure we still want you to carry the cost of preserving the property, fixing the property and sure we'll probably still lose your invoices (the same way we lose short sale packages) and of course, we want the right to sell the property on our own too. We'll take care of you though.At the bank we want to the thank you for your loyalty and service, nevermind that 200 plus agents we just added to our roster.Oh and have a Merry Christmas, just be sure to turn in the BPO on time.
In San Diego County there are 20 thousand NOTICES of Default Filed with 120 day Notice of Trustee Sale Dates attached. 10,000 of them have been active for a least one year. Now with the delays installed by Fannie and Freddie and the large banks for December and the re notice required by law, the inventory is going to be giant. All of this means one thing to me, I got no Idea what the Government and the Banks are doing, I am just reading the papers like the public. I do know that there are at least twice the number on the books of the banks that do not have the NOD filed. I personally know of people that have not made payments for 18 months and do not even have the NOD filed nor have they heard from the bank. He figures he will be there without making a payment for another year after he files for B.K. His attorney said not to file to quickly as he wants to make sure the Foreclosure action is included or he could end up back in Court and it will take longer to do the paper work. This is a whole new set of morals, I dont understand.
After thinking I would have a relatively slow December I just received more new property assignments than I have had in 3 months and although reports were to the contrary 3 completed evictions (We were told there would be no evictions in Dec so I am shocked). So much for taking the month off….
I should probably put a note on it that it's not me complaining but rather what I got from a bunch of REO agents in my area. They should be happy 2010 looks good for the REO agent
Comments
-
1
-
2
of 2 Next